MBA Abroad Scholarships for Indian Students

MBA abroad scholarships are in demand these days amongst Indian students. Be it freshers or working professionals; it seems everyone is trying to get into the bandwagon of getting an MBA degree along with MBA abroad scholarship. Those Indian students who are fencing on the idea of earning an MBA, instead of keeping their options limited to the Tier-I MBA institutes of India, can also lookout for MBA abroad. 

Whether it is in India or abroad, getting into a quality institute is never a cakewalk. In India, there is an added strain of low capacity and high demands. An MBA degree from abroad cushions this low probability of admission; however, the idea of studying abroad leaves many at loose ends. 

But before we head on to how’s of an MBA abroad, it is pertinent to foresee the extra edge that an MBA abroad provides.

Is MBA abroad a good option for Indian students?

Employment: an integral part of education – Business schools that cater to the world’s economic needs pay great attention to their students’ employment requirements. The curriculums of these programs are designed for occupational training. By and large, an MBA from abroad will reduce the initial job-hunting stress. MBA from abroad signals the candidate’s cognizance with the current emerging markets, which is a major lookout amongst the employers. An MBA from abroad usually fetches the best possible salary bracket of the market. 

Career advancement – The degree shines bright in the CV, for it reflects the skills one has to learn to earn a degree from a global school. The familiarity with the international standards and expectations of the global business dominions, automatically keeps you ahead in the competition. It also helps in building a professional brand. If you pass out with an MBA degree from a well or fairly reputable college, there is a better chance of acing a senior and significant position in a company.

The extended professional footprint – Doing what you have been doing for a prolonged time, would at one point in time, reach an inflexion point, where the experience is of stagnant and closed nature. An MBA, especially from a foreign institute, will open a horizon of learning, training, re-training, and upgrading. This allows a person to identify his/her other areas of interest and strengthen the same, thereby expanding the professional footprint. An MBA abroad will realign one’s skill set while providing a strategic perspective to shift the career trajectory. 

Hands-on-learning with specialization– One of the major reasons for the popularity of the MBA from abroad is the hands-on-learning, where they combine study with real-life and real-time practices. This is a part where the Indian education system lags – our education system relies a lot on words, models and theories than actual know-how. 

Business environment is highly dynamic. To be able to grasp, forecast and ideate the mannerisms and tendencies of the business environments, the concerned institute has to be well adapted to the constantly changing norms of the markets. And what’s better than studying MBA in a foreign institute which lays ahead of all the global changes.

Businesses today need professionals who are well-introduced with fundamentals of the business operations and at the same time come with expertise. An MBA, along with providing an overall managerial capability equips a student with subset expertise based on the specialization one chooses. 

Opportunity to be part of a global network – Most MBA schools abroad have faculty who have work experience in global conglomerates. Such business schools and universities have established relationships with the best contacts – be it individuals, brands or corporations. Furthermore, joining a business school in a foreign country will allow you to know other cultures, exchange and interact with a global population set of peers and professors from different parts of the world. You also get the opportunity to interact and learn from a global alumnus, who has been there, done what you are seeking to do.

How Indian student can apply for an MBA  degree from abroad?

There are many  benefits of studying MBA abroad, but at the same time, it leaves the candidates with cold feet, because going out of the country to pursue a full-time degree is an expensive affair. As more and more people are looking to pursue MBA abroad, more questions are surfacing. Having clearly understood the value of a foreign MBA, the immediate question that pops in mind is how to go for it and how to finance the study. MBAs abroad can deplete your savings. No doubt the returns are high, but the initial cost bearing can be a major point of concern. So, it is extremely important to debunk all the prerequisites of studying MBA abroad, with absolute clarity.

Also Read: Best universities in London for MBA.

Points to keep in mind other than the financial aspect:

• Be clear about why you want to study MBA abroad – whether you want to kick-start your career, earn more money or change your career. Choose your program depending on the objective.
• Weigh your options depending upon your current position and priorities regarding whether you are a fresher or a working professional. Most MBAs abroad seek or are designed for working professionals, with the required experience ranging from 4-6 years. Notably, some colleges and universities also take in students with low or no experience.
• Before applying for an MBA abroad, it is essential to identify the qualifying exams and other eligibility criteria, laid down by the universities and colleges. It should be noted that the qualifying exams can be common, but the eligibility criteria of every institute should be checked and ticked-off without fail. Although there are no specific criteria, almost all institutes require the applicant to be a graduate.
•  Usually, there are two sets of qualifying exams – one may require GRE or GMAT, while the other is a language paper – that may require qualifying TOEFL, IELTS or PTA.

Indian Student Financing Ways

Before starting application, students are advised to look at the cost of their course. This is not to scare off the aspirants but to make them aware of the options available. Depending on their self-capacities and the costs, aspirants should weigh all the available options and freeze the most suitable one.

There are four ways of funding an your dream of doing an MBA from abroad –

1.  You can use your personal savings to fund your study.
2. If you are an employee (a valued one), you can explore opportunities for your company to sponsor your MBA abroad.
3. There are several financial institutions, banks that offer MBA loans.
4. You can avail scholarships and fellowships to finance your business management study abroad.

Out of the four available options, availing MBA scholarships from foreign universities is visibly the least tricky, least burdensome and most cost-supportive one. There are several such avenues where students are awarded scholarships to help them pursue their dream career, which is not required to be repaid, nor do they come with any precondition or bonds and neither do they deplete your hard-earned savings. 

Types of scholarships:

• Merit-based – These scholarships are awarded based on the applicant’s academic excellence, achievements, and abilities.
• Need-based scholarships are given if and when a candidate meets some of the criteria of deprivation or lack of opportunity, per se, financial (in)capacity. They are based on a family’s income.
• Country-based – A country provides these scholarships to applicants of foreign countries to promote the study, research, and development in the home country. 
• Subject and program based – Such scholarships can be availed only by studying enrolled in specific subjects or programs. 

Make your dream come true with Leap Scholar

Getting a scholarship is a whole different ball game. To keep a tab of the available avenues of scholarship for MBA abroad itself is a tedious stretch of work. It is very easy to get lost in the procedural complexities of availing a scholarship. 

Going abroad, in a whole different country, out of the comfort zone, itself leaves people with jitters. The financing of the same does not have to be one. With Leap Scholar, you can make a definite start and plan your scholarship with proper guidance and direction. 

Leap Scholarship is a scholarship initiative of Leap Scholar to support Indian students who want to study abroad. Every year scholarships are awarded, and the students can avail the scholarship via Leap Program. 

Leap Program is a comprehensive counselling program designed for Indian students which provides complete guidance from the scratch to the final admission in colleges and universities, where you want to pursue your MBA. The program provides scholarships for studying in the USA, UK, Canada, Australia and Ireland. It also provides online IELTS coaching, which is backed by some of the most revered educators of India. 

Not just MBA, but more than 5000 courses are covered in the ambit of this scholarship, covering 100% tuition fees. Scholarships worth $250K have already been awarded till now. 

The platform is endowed with a team of extremely efficient study abroad experts who work along with international students and mentors to ensure zero ambiguity, no discrepancy or asymmetry of information. 

Subsequently, with Leap Scholar, a student gets precise guidance and assistance, starting from the counsellors in shortlisting colleges, to SOP and LOR to getting the student visa. Furthermore, they assist applicants in availing scholarships and provide financial counselling as well. 

The platform reserves a wide pool of mentors, who provide the students with well designed strategic guidance in their area of study depending on the course and the country they want to pursue their degree from. 

Eligibility Criteria for Leap Scholarship

•  You must be an Indian national. You must be a graduate with a minimum 60% marks or more than 6 CGPA.
•  You must have scored more than 55% in 12th standard exam.
• You must have an admit from a designated college.
• You must be a fresher or have 0-4 years of work experience.
• You must sign up and complete the application process via Leap Scholar Program.
• You won’t be eligible for Leap Scholarship if you already have a grant, reward or scholarship from your chosen college/university or any other avenue in India or abroad.

Other details

• The amount of Leap Scholarship for the year 2021 is USD 200,000.
• The scholarship amount will be given to your chosen college. 

Business environments are becoming more complex and demanding and require managers who are equipped with high competency and efficiency. It should be understood that an MBA degree can lead you to attractive packages, the best employers of the industry and a jump-start career only if the degree brings merit, ability and efficiency to the table. Such foundations can be imparted by quality institutions, which is very limited in India, considering there are only a few IIMs and some other institutes of repute. Do not fret over the funding. Instead, pursue your dream of getting an MBA abroad with Leap Scholar. 

Also Read: Scholarships in Canada.